Swing Trade Idea – (MSFT) – July 15, 2020
Our bullish trade for Wednesday, July 15th is MSFT (Microsoft Corporation). MSFT is part of the Technology Sector (XLK). XLK has experienced a 7.7% gain in the last month and its 1M and 6M trends turned bullish on April 8th and April 22nd respectively.
MSFT’s 1M trend turned bullish on June 5th and has recently pulled back to an area of support to provide a good long entry. With a technical score of 10 (out of 10), MSFT is a very strong stock that will likely move higher.
As a stop loss, if MSFT were to trade below $190.00 for multiple days, this would invalidate our analysis and we would focus on cutting losses on the trade. We would also consider cutting losses on this options trade if the value of the vertical spread moves above $11.40.
